The Silicon Review - Best Business Review Magazine 10 Best IT Services Companies 2019 | Page 39

The Founders and company are
proud members of HM Treasury
(UK) Women in Finance Charter,
International Decentralized
Association of Cryptocurrency
and Blockchain (EU), Alliance of
Blockchain Professionals, FinTech
Association of Hong Kong, FinTech
Australia Association, Thai Fintech
Association, Blockchain Association
of Australia, Blockchain Chamber
of Commerce (USA), Cambodian
Association for Mining and
Exploration Companies.
Ilias Bafas,
BULLIONBLOCK
LTD Founder, spoke
exclusively to
The Silicon Review.
Below is an excerpt.
Tell us about the challenges
BULLIONBLOCK faces.
The biggest challenge is that the
blockchain industry is constantly
developing with changes on a daily
basis as regulators seem to be
playing catch-up with the digital
demand. Regulatory red-tape
certainly has slowed down time
to market as it feels like we are
experiencing a renaissance lately,
especially when regulations fail to
keep up with the pace of changes in
technology, which leaves start-ups
such as BULLIONBLOCK operating
in a grey area.
One of the more serious challenges
for fintech firms we foresee is
fending off cyber-attacks which
are faced by businesses and
governments all around the world,
given the sensitive nature of
the client data, they’re a serious
concern. BULLIONBLOCK is
employing the highest level of
security available such as Moving
Target Defence (MTD) to protect
our data and customers, along with
establishing its own Blockchain
Lab in Malta that will focus on R&D
of dynamic blockchain security
solutions.
A tech company needs to
be very agile with product
and service innovation
in order to withstand
the competition, what is
your approach towards
innovation?
Keeping our customers’ needs
and experience at the heart of
every new technology we adopt is
paramount. Our aim is always to
make things easier and enjoyable
for our consumers and to offer
them a level of service and 24/7
support they wouldn’t get anywhere
elsewhere.
Being able to call our customer
support line and/or tap the live
chat feature in our app and speak
to a real person is an essential key
service of seamless BULLIONBLOCK
customer journey.
Our integrated digital fintech
ecosystem includes mobile digital
financial services, payment gateway,
and international remittances
to service the global on-demand
economy. We are focused on
end-to-end value propositions
encompassing our platform for all
devices, thus we leverage a diverse
range of value chain strategic
partnerships.
Our mobile App is a desktop and
mobile e-Wallet for international
remittances and payment solutions,
driven by Peer-2-Peer Functionality,
and the Crypto Mint Decentralized
Exchange.
What are the factors that
make your company stand
out from the competition?
BULLIONBLOCK Fintech services
are one-of-a-kind as they’re:
• Fast: transactions clear in mere
moments due to our innovative
consensus algorithm and high-
throughput. BULLIONBLOCK
transactions are fast for real-
world usefulness
• Final: BULLIONBLOCK
transactions can never be
rolled back, ensuring that
everyday users, merchants,
entrepreneurs, and Fortune
500 companies who will call
BULLIONBLOCK home have
the security of knowing their
transactions are final
• Fees: The cost to the user
will be more than 70 percent
cheaper to the legacy banks
and the current remittance
service providers through the
BULLIONBLOCK’s seamless
phone app
• Private: The platform will
provide anonymity and
enhanced security, offering
flexibility and freedom from
a bullion-backed electronic
digital money account with full
privacy to the user
In addition, BULLIONBLOCK creates
the opportunity for the financially
excluded, under banked and
unbanked people of the world to
connect with modern markets, and
this will create a new source for
growth to fuel the global economy.
With the uncertainty we are
witnessing in the world around
geopolitics and global finance, gold
and silver, physical bullion will
continue to be the safe haven asset
of choice for governments, banks,
investors, traders and the general
public.
Unlike traditional banking, this
system is not tied to one specific
government and or country – it is
not tied to one specific currency,
and it is not tied to any specific
bank. Therefore, it is crisis-proof.
MARCH 2019
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